“You, On Medicaid,” by William Anderson, HuffPost “Three out of four people using a nursing home depend on Medicaid to pay for their care. That means you and your parents will probably be counting on Medicaid to pay for them. It means that there’s a very good chance you will be counting on it for yourself, and the quality of the place you go and the way you are treated will depend on the care that can be afforded. That care has a bad reputation now. What do you think it will be like if Medicaid is cut the way some
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“Judge Sides with 130,000 Long-Term Care Policyholders in Class Action Against CalPERS, Permits Case to Proceed to Trial”
“Judge Sides with 130,000 Long-Term Care Policyholders in Class Action Against CalPERS, Permits Case to Proceed to Trial,” Cision PR Newswire “A Los Angeles Superior Court judge sided with more than 130,000 class members, all CalPERS Long Term Care policyholders, in their class action against CalPERS for unjust premium increases, permitting their claims to proceed to trial. . . . The class members contend the increase was unjustified, due to CalPERS’ failures in establishing the program and because the increases were not permitted by the contract. The plaintiffs asserted five causes of action against CalPERS: breach of fiduciary duty; breach of
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“32% of Baby Boomers Have No Emergency Savings”
“32% of Baby Boomers Have No Emergency Savings,” by Lisa Fu, “Though they are approaching retirement, 32% of those aged 53 to 62 have no emergency savings, the highest among the different age groups. McBride said many of these baby boomers may have lost their savings in the economic downturn or faced long term unemployment. Those older than age 63 reported the lowest likelihood of empty savings and 44% of them have enough savings to cover at least 6 months worth of expenses according to Bankrate.com. ” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Well,
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“Announcing the 2017 Caregiver Friendly Award Winners”
“Announcing the 2017 Caregiver Friendly Award Winners,” by Gary Barg, Caregiver Magazine LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Check out this list of links to meritorious books, media, products and services related to long-term caregiving. Announcing the 2017 Caregiver Friendly Award Winners #goldencareagent #caregivers
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GoldenCare Newsletter | June 19, 2017
In this GoldenCare Newsletter Edition From GoldenCare: Join us for brand new webinar topics including a brand new short-term Home Health Care product and special guest speakers. See our full list of hot topics. PROMO TIME!! Get your Careshield, Mutual of Omaha Custom Solutions and GTL Critical Cash apps in for our Amazon.com Gift Card Blowout! See the Newsletter for details on this exciting promotion. Minnesota Agents! Tomorrow! Join us in St. Cloud for an Onsite Dynamic Sales Training Workshop. Walk ins welcome. See the Newsletter for topics and times. Our Guest Article in this edition is “Your 2017 Guide
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In-Force Rate Action Announcement: Oregon (Privileged Choice® and Classic Select®)
As part of the strategy for our long-term care insurance business, we continue pursuing initiatives to improve the risk and profitability profile of our business, including premium increases on our in-force policies, as needed. In September 2013, we began to seek premium rate increases on certain Privileged Choice® and Classic Select® policies sold between 2003 and 2012. Subsequently, we received approval for, and implemented, a 12.8% premium increase in Oregon. At the time, a larger increase was justified, based on projected experience, but rate stability requirements prevented us from requesting the fully justified amount. In 2016, we began requesting the
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Genworth, Industry News, and Long-Term Care.
In-Force Rate Action Announcement: Wisconsin AARP (Privileged Choice® and Classic Select®)
As part of the strategy for our long-term care insurance business, we continue pursuing initiatives to improve the risk and profitability profile of our business, including premium increases on our in-force policies, as needed. In September 2013, we began to seek premium rate increases on certain Privileged Choice® and Classic Select® policies sold between 2003 and 2012. Subsequently, we received approval for, and implemented, a 12.8% premium increase in Wisconsin. At the time, a larger increase was justified, based on projected experience, but rate stability requirements prevented us from requesting the fully justified amount. In 2016, we began requesting the
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Genworth, Industry News, and Long-Term Care.
“How to Use IRA Savings to Buy Long-Term Care Insurance”
“How to Use IRA Savings to Buy Long-Term Care Insurance,” by Rick Pendykoski, ElderLawAnswers “Typically, withdrawals or non-qualified investments (including insurance purchases) made with IRA funds before the age of 59½ are subject to taxes and penalties. Certain allowances are made if you use IRA savings to pay for medical expenses that exceed 10 percent of your adjusted gross income, or if you’re unemployed and using these funds to buy medical insurance. Although these exemptions don’t apply if you’re buying LTCi directly with your IRA savings, there are some indirect options available that allow you to avoid taxes and penalties.
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“MarketWatch: Pick a Reverse Mortgage Instead of Care Insurance”
“MarketWatch: Pick a Reverse Mortgage Instead of Care Insurance,” by Alex Spanko, Reverse Mortgage Daily “Reverse mortgage professionals know that partnerships with financial planners could hold the key to endorsement growth, and a national business publication found an advisor who recommends Home Equity Conversion Mortgages over long-term care insurance. MarketWatch this week featured George Gagliardi, a financial planner from Lexington, Mass., who’s “growing increasingly fond” of the reverse mortgage option for clients who come to him asking about long-term care insurance.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): More bad advice from a financial planner.
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“5 Top States for Long-Term Care Insurance Use”
“5 Top States for Long-Term Care Insurance Use,” by Allison Bell, ThinkAdvisor “In spite of all of the gloom and doom surrounding private long-term care insurance, more than 10% of the older residents of five states have it. Long-term care insurance penetration among residents ages 40 and older ranges from 2.5% in Nevada to 12% in the top state, with a median of 4.7%. AARP has published state-by-state data on long-term care insurance ownership, and dozens of others related to long-term care needs, delivery systems and finance systems, in a database linked to its latest long-term services and supports state
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